Global Magnesium Metal Market Segmentation by Application (Aluminium alloys, Die-casting, Automotive industry, Aerospace industry, Electronics industry), by Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa).

The use of magnesium in automobile parts continued to increase as automobile manufacturers sought to decrease vehicle weight to comply with fuel-efficiency standards. Magnesium castings have substituted for aluminium, iron, and steel in some automobiles. Various factors such as increasing use of magnesium metal as a refractory material in furnace linings for producing cement & glass, rising demand form automotive sector, increasing investment by major players in R&D and growing magnesium consumption to remove sulphur in the production of steel & iron and for titanium production are driving the global magnesium metal market over the forecast period.

However, factors such as the explosive nature of magnesium & its alloys and harmful emission of UV light when burnt are restraining the market growth over the forecast period.

Global Magnesium Metal Market is segmented by application and by region. By application, the automotive application segment dominated the global market in 2019 and is expected to keep its dominance over the forecast period. Factors such as Rising demand for magnesium metal in the automotive industry for the production of various automobile parts, increasing adoption of magnesium metal in making of aluminium alloys, and increasing usage of magnesium for die-casting are expected to fuel the growth of the market growth this segment over the forecast period.

By geography, Asia Pacific dominated the global market in 2019 and is expected to keep its dominance over the forecast period. Various factors such as rapid industrialization, growing automotive sector, growth in the electronics industry particularly in China are driving the market growth in this region. China is the largest producer and consumer of magnesium and its alloys.

The report covers in-depth analysis of key development, marketing strategies, supply-side and demand-side indicators. Some of the major key players covered in this report are VSMPO-Avisma, Solikamsk Magnesium Works, US Magnesium, Dead Sea Magnesium, Nippon Kinzoku, Sunglow Group, POSCO, Magnohrom, Nevada Clean Magnesium Inc., Magontec Ltd, and Latrobe Magnesium Ltd among others. These Key players are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches, and patents to increase their regional presence and business operations.

Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Magnesium Metal Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Magnesium Metal Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Magnesium Metal Market positioning of competitors.

Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Magnesium Metal Market .”

https://www.maximizemarketresearch.com/market-report/global-magnesium-metal-market/65286/

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